Official Release: Full Tilt Poker Concludes Transaction with PokerStars
Dublin, Ireland – July 31, 2012 - Full Tilt Poker is very pleased to announce the conclusion of a three-way transaction with PokerStars and the United States Department of Justice that will result in all of its players having the opportunity to be paid. The agreement ends the company’s civil forfeiture proceedings with the U.S. Department of Justice.
Under the terms of the agreement, PokerStars will pay a substantial amount of money to the United States, and the government has agreed that all of Full Tilt Poker’s U.S. players will have an opportunity to request that they be compensated out of those funds for their losses. In addition, within ninety days, PokerStars will make available for immediate cash withdrawal or play the account balances for all of Full Tilt Poker’s non-U.S. players.
Full Tilt Poker apologizes to all of its customers who endured a long and difficult period wondering whether this day would ever come.
Full Tilt Poker expresses its appreciation to its loyal employees whose hard work over the last 15 months preserved the value of the Full Tilt Poker assets so a deal like this could be possible, and to PokerStars and the United States Department of Justice for their efforts in bringing about this resolution.
Jeff Ifrah of Ifrah Law PLLC (Washington, D.C.), Barry Boss and Anne Madonia of Cozen O’Connor (Washington, D.C. and Philadelphia, PA respectively), Tony Coles and Charles Gerada of Jeffrey Green Russell Solicitors (London), and Tony O’Grady of Matheson Ormsby Prentice (Dublin) represented the affiliated companies that own and operate Full Tilt Poker.
